Let's crunch the numbers

Try out our loan calculator to estimate your monthly or biweekly payments.

Car loan calculator

Vehicle price

$

Down payment

$

Term length

24

months

36

months

48

months

60

months

72

months

84

months

96

months

Credit score (optional)

<600

Below average

601 - 680

Average

681 - 780

Good

780+

Above average

Interest rate

Province

Your payment

Vehicle price

$30,000

Down payment

$0

Trade-in value

$0

Taxes & fees (estimated)

$4,079

Total

$34,079

Estimated biweekly payment

$284

Personalize your financing terms in minutes, with no impact to your credit score.

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FAQ

Applying is easy and completely online. Select ‘Financing’ as your preferred payment method during checkout and you'll be guided through all of the steps to complete your application. Once you complete your financing application, we’ll send it to potential lenders for approval. If potential lenders require more information, we’ll reach out and ask you to provide it.

Gross income is your total monthly or yearly income before any taxes are deducted. This amount is higher than your “net pay” or “take-home pay.”

Interest is calculated on a per payment basis. This means that if you pay the loan off early you will not be charged the remaining interest. For example, if you are on a 60-month loan and pay it off in full at 36 months, you would save 24 months’ worth of interest. Note: If you decide to put extra money down on the loan after you take possession of the car, it will not lower your payment instalments—it will only shorten the length of the term of the loan.

The minimum amount your lender can lend is $7,500 after taxes. If the amount is below this, lenders cannot finance a contract. Once the vehicle is financed, however, you can immediately put money down on the loan to reduce it to your desired loan amount.

If you didn’t qualify for financing, we suggest adding a co-applicant! That will help strengthen your profile to increase the probability of approval. Email us at support@clutch.ca and we can help guide you through the process.

Down payments are usually not required. In some cases, however, lenders may require a down payment to approve financing. If you choose to put a down payment, you may pay as much as you’d like as long as the minimum amount financed is $7,500. If the amount is below this, lenders cannot finance a contract.